Splunk (SPLK) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Splunk (NASDAQ:SPLK) from a buy rating to a strong-buy rating in a report published on Tuesday.

Several other equities analysts have also recently commented on the stock. Barclays raised shares of Splunk from an equal weight rating to an overweight rating and raised their price target for the company from $80.00 to $105.00 in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Splunk from a hold rating to a buy rating and set a $100.00 price objective on the stock in a report on Friday, January 19th. Royal Bank of Canada restated a buy rating and issued a $76.00 price objective on shares of Splunk in a report on Tuesday, November 7th. Deutsche Bank raised their price objective on shares of Splunk to $100.00 and gave the company a buy rating in a report on Monday, January 15th. Finally, Maxim Group raised their price objective on shares of Splunk from $79.00 to $96.00 and gave the company a buy rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Splunk presently has a consensus rating of Buy and an average price target of $98.26.

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Splunk (NASDAQ:SPLK) opened at $107.21 on Tuesday. Splunk has a 1 year low of $54.17 and a 1 year high of $108.89. The company has a market cap of $15,270.00, a P/E ratio of -57.64 and a beta of 1.95.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, March 1st. The software company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Splunk had a negative net margin of 20.39% and a negative return on equity of 31.82%. The company had revenue of $419.70 million during the quarter, compared to analysts’ expectations of $390.79 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 37.0% compared to the same quarter last year. analysts anticipate that Splunk will post -1.24 earnings per share for the current year.

In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of Splunk stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total value of $390,699.54. Following the transaction, the senior vice president now directly owns 89,157 shares in the company, valued at $7,180,704.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction on Monday, December 11th. The shares were sold at an average price of $81.29, for a total transaction of $711,287.50. Following the completion of the transaction, the director now owns 207,239 shares in the company, valued at $16,846,458.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,720 shares of company stock worth $2,477,118. 1.43% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Splunk by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock valued at $282,000 after purchasing an additional 389 shares during the period. Penserra Capital Management LLC increased its stake in Splunk by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 4,060 shares of the software company’s stock valued at $336,000 after purchasing an additional 638 shares during the period. Envestnet Asset Management Inc. increased its stake in Splunk by 7.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,473 shares of the software company’s stock valued at $866,000 after purchasing an additional 698 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in Splunk by 3.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 22,794 shares of the software company’s stock valued at $1,514,000 after purchasing an additional 800 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Splunk by 17.6% in the third quarter. CIBC Asset Management Inc now owns 5,741 shares of the software company’s stock valued at $381,000 after purchasing an additional 860 shares during the period.

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About Splunk

Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.